Exhibit 99.1

Reconciliation of GAAP to Supplemental Schedule 1 FFO Amounts
(in thousands) (unaudited)

	Three Months Ended March 31, 2010												Three Months Ended March 31, 2009
				Proportionate												Proportionate
				Share of												Share of
	Consolidated			Unconsolidated			Noncontrolling			Proportionate			Consolidated			Unconsolidated			Noncontrolling			Proportionate
	Amount			Partnerships			Interests			Amount			Amount			Partnerships			Interests			Amount
Pro Forma Funds from Operations	$	40,773		$	8,976		$	(12,828	)	$	36,921		$	52,251		$	(1,400	)	$	(2,038	)	$	48,813
Adjustments:
Continuing operations:
Depreciation and amortization		(109,019	)		(1,027	)		12,819			(97,227	)		(104,860	)		(642	)		10,880			(94,622	)
Depreciation and amortization related to non-real estate assets		3,973			2			(69	)		3,906			4,307			2			(58	)		4,251
Provision for operating real estate impairment losses		—			—			—			—			(510	)		—			—			(510	)
Gain on dispositions of real estate related to unconsolidated entities and other		2,642			—			(2,130	)		512			10,864			—			(253	)		10,611
Income tax benefit on Gain on dispositions of real estate related to unconsolidated entities		(8	)		—			—			(8	)		(1	)		—			—			(1	)
Gain on dispositions of non-depreciable assets and other		—			—			—			—			(681	)		—			—			(681	)
Discontinued operations:
Depreciation and amortization		(792	)		—			150			(642	)		(18,734	)		—			2,223			(16,511	)
Depreciation and amortization related to non-real estate assets		6			—			10			16			87			—			(13	)		74
Provision for operating real estate impairment (losses) recoveries		(7,225	)		—			—			(7,225	)		3,364			—			(95	)		3,269
Gain on dispositions of real estate		26,339			—			(10,086	)		16,253			4,546			—			(4,373	)		173
Income tax (benefit) expense arising from disposals		1,052			—			—			1,052			(215	)		—			—			(215	)
Total adjustments		(83,032	)		(1,025	)		694			(83,363	)		(101,833	)		(640	)		8,311			(94,162	)
Noncontrolling interests in Aimco Operating Partnership’s share of adjustments		5,808			—			—			5,808			7,109			—			—			7,109
Amounts allocable to participating securities		194			—			—			194			542			—			—			542
Equity in income (losses) of unconsolidated real estate partnerships		7,951			(7,951	)		—			—			(2,040	)		2,040			—			—
Net (income) loss attributable to noncontrolling interests in consolidated real estate partnerships		(12,134	)		—			12,134			—			6,273			—			(6,273	)		—
Net (loss) income attributable to Aimco common stockholders	$	(40,440	)	$	—		$	—		$	(40,440	)	$	(37,698	)	$	—		$	—		$	(37,698	)

Asset Management and Tax Credit Revenues
(in thousands) (unaudited)

	Three Months Ended March 31, 2010										Three Months Ended March 31, 2009
				Proportionate									Proportionate
				Share of									Share of
	Consolidated			Unconsolidated		Noncontrolling		Proportionate			Consolidated		Unconsolidated		Noncontrolling		Proportionate
	Amount			Partnerships		Interests		Amount			Amount		Partnerships		Interests		Amount
Amortization of deferred tax credit income	$	6,602		$	—	$	—	$	6,602		$	7,867	$	—	$	—	$	7,867
Asset management revenues		136			—		771		907			697		—		390		1,087
Transaction revenues
Deferred asset management fees		—			—		—		—			—		—		—		—
Promotes		(890	)		—		—		(890	)		502		—		—		502
Other GP transactional fees		828			—		—		828			233		—		—		233
Tax credit syndication fees		(2,419	)		—		—		(2,419	)		240		—		—		240
Total transaction revenues	$	(2,481	)	$	—	$	—	$	(2,481	)	$	975	$	—	$	—	$	975